1inch incentivizes Unicorn Power delegation
10 mln 1INCH tokens have been allocated to incentivize stakers’ delegation of Unicorn Power to resolvers.
The 1inch Foundation has allocated 10 mln 1INCH tokens to the Delegation Incentive Program, which aims to incentivize the delegation of 1INCH stakers’ Unicorn Power to resolvers.
Last December, in a breakthrough move set to take user’s DeFi experience to a new level, the 1inch Network launched Fusion mode, which enables users to make swaps without paying network fees. Swap orders are filled by resolvers — professional market makers who pay applicable gas fees, while profiting from arbitrage trading.
To help facilitate the new system, the 1inch Resolver Incentive Program was launched in December, 2022, aimed to compensate resolvers’ gas costs.
Meanwhile, users who stake their 1INCH tokens, now receive Unicorn Power, which could be used in votes for major network decisions or delegated to one of the resolvers — in exchange for delegation rewards. To learn more about 1INCH staking, check out this Help Сenter article.
Fusion mode offers users a totally new approach to DeFi transactions, and, to incentivize the process of Unicorn Power delegation to resolvers, 250,000 1INCH tokens will be distributed to 1inch resolvers once a week. The resolvers, in turn, will use these funds to reward stakers who delegated them Unicorn Power, making the staking of 1INCH tokens extremely attractive.
The number of tokens that each resolver will receive will depend upon their network share. The program will run until the entire 10 mln 1INCH fund is distributed.
You can delegate Unicorn Power to the 1inch Labs resolver and start receiving rewards right now!